Global API 610 Centrifugal Pumps Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global API 610 Centrifugal Pumps Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

API 610 International Standard specifies requirements for centrifugal pumps used in process services in the petroleum, petrochemical, and natural gas industries. API 610 Centrifugal Pumps are centrifugal pumps that meet the API 610 standard.

Market Overview:

The latest research study on the global API 610 Centrifugal Pumps market finds that the global API 610 Centrifugal Pumps market reached a value of USD 1230.54 million in 2022. It’s expected that the market will achieve USD 1671.43 million by 2028, exhibiting a CAGR of 5.24% during the forecast period.

Market Trends

Large-scale development of API 610 Centrifugal Pumps
Centrifugal pumps are the most commonly used mechanical equipment for fluid delivery in refining and chemical production facilities. At present, due to the continuous increase of oil refining capacity and chemical production scale, the demand for large-flow and high-pressure centrifugal pumps has also increased. API 610 Centrifugal Pumps are listed as the main types of centrifugal pumps in the petrochemical field. Therefore, as the petrochemical industry is moving towards large-scale and large-scale development, API 610 Centrifugal Pumps, as its supporting products, will inevitably develop in the direction of large-scale and high-speed operation.

Growth Drivers

The market size of the chemical industry continues to expand
The chemical industry is an important part of the development of China's national economy. Its market scale is constantly expanding and it plays an important role in the development of the national economy. The consumption of chemical products is closely related to the state of the national economy and is widely distributed in various fields of the national economy such as infrastructure, real estate, agriculture, automobiles, and clothing. At present, changes in downstream demand for agrochemicals, electronic chemicals, new energy chemicals, and textile chemicals have driven the expansion of the chemical industry market.

In the chemical industry, centrifugal pumps are highly demanded by the chemical industry due to their powerful ability to handle and transport corrosive liquids. In the chemical industry, centrifugal pumps are mainly used to move liquid compounds from one place to another. For example, liquids in containers need to be diverted to the main production area.

At present, centrifugal pumps are widely used in petrochemical, coal chemical, and other chemical industries to transport liquids of different properties and provide the pressure and flow required for chemical reactions. In the chemical industry, the most widely used international standard for centrifugal pumps is API610. Therefore, with the continuous expansion of the chemical industry market, the market demand for API 610 Centrifugal Pumps continues to increase.

Region Overview:

In 2022, the share of the API 610 Centrifugal Pumps market in North America stood at 30.38%.

Company Overview:

Flowserve is one of the world's largest manufacturers of pumps, valves and seals, with employees in 50 countries. Building on a legacy of world-renowned brands, Flowserve's innovations benefit a range of industries, including oil and gas, power, chemicals, water, pharmaceuticals and food processing. Solving these industry challenges has made Flowserve a leader in the development and application of advanced solutions for customers. On July 21, 2022, the company redesigned the bearing housings of the HPX centerline mount process pumps to provide better performance and value. New inner slinger optimizes bearing lubrication; finned upper housing surface improves heat dissipation.

KSB is one of the world's leading suppliers of pumps, valves and related systems. KSB combines innovative technology with excellent service to provide smart solutions. The company offers pumps, valves and systems for virtually any application involving the transportation of liquids. The company focuses on centrifugal pumps, valves, pump systems, valve systems, pump services and other fields. At the beginning of 2023, the KSB Group is going to launch a new submersible borehole pump series onto the market. Named UPA S 250, this pump series will extend the manufacturer's range of well pumps. It is designed for use in general water supply, agriculture, mine dewatering and ground water management as well as for general pressure boosting tasks, for example.

Flowserve is one of the major players operating in the API 610 Centrifugal Pumps market, holding a share of 15.09% in 2023.

Segmentation Overview:

Vertical
The type is vertical API 610 Centrifugal Pumps, the pump is designed to be installed perpendicular to the level ground.
Horizontal
The type is horizontal API 610 Centrifugal Pumps, the pump is designed to be installed parallel to the level ground.

By type, Vertical segment accounted for the largest share of market in 2022.

Application Overview:

Oil and Gas
Refers to the application of API 610 Centrifugal Pumps in the oil and gas field, such as for the transportation of oil and gas products.
Chemical
Refers to API 610 Centrifugal Pumps used in the chemical industry. In the chemical industry and other fields, the product plays the role of transporting liquid and providing pressure and flow for chemical reactions in the production process of these chemical products.

The market's largest segment by application is the segment Oil and Gas, with a market share of 71.98% in 2022.

Key Companies in the global API 610 Centrifugal Pumps market covered in Chapter 3:

Sundyne
Trillium Flow Technologies
Gruppo Aturia
KSB
ITT Goulds Pumps
Carver Pump
Pumpworks
Ruhrpumpen
Truflo Pumps
Sulzer
Ebara Corporation
Kirloskar Brothers Limited
Flowserve
V-FLO

In Chapter 4 and Chapter 14.2, on the basis of types, the API 610 Centrifugal Pumps market from 2018 to 2029 is primarily split into:

Vertical
Horizontal

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the API 610 Centrifugal Pumps market from 2018 to 2029 covers:

Oil and Gas
Chemical
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)